Victory Capital Management Inc. Acquires 6,134 Shares of Invesco Ltd. (NYSE:IVZ)

Victory Capital Management Inc. boosted its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,469 shares of the asset manager’s stock after purchasing an additional 6,134 shares during the period. Victory Capital Management Inc.’s holdings in Invesco were worth $2,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Family Firm Inc. bought a new position in shares of Invesco in the 2nd quarter valued at $28,000. Sentry Investment Management LLC bought a new position in shares of Invesco in the 2nd quarter valued at $30,000. Allworth Financial LP lifted its stake in shares of Invesco by 304.0% in the 3rd quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 1,806 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Invesco by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 1,210 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Invesco in the 1st quarter valued at $64,000. 66.09% of the stock is currently owned by institutional investors.

Invesco Stock Performance

Shares of Invesco stock opened at $17.74 on Friday. The business’s fifty day simple moving average is $17.65 and its 200 day simple moving average is $16.50. The firm has a market capitalization of $7.97 billion, a P/E ratio of -19.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. Invesco Ltd. has a 12 month low of $13.53 and a 12 month high of $18.94. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Invesco had a positive return on equity of 8.83% and a negative net margin of 3.00%. Invesco’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. As a group, analysts anticipate that Invesco Ltd. will post 1.69 EPS for the current year.

Invesco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 14th will be paid a dividend of $0.205 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.62%. Invesco’s payout ratio is -89.13%.

Analyst Ratings Changes

Several research analysts recently issued reports on IVZ shares. Barclays raised their target price on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Invesco from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Evercore ISI raised their target price on Invesco from $19.00 to $20.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on Invesco from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their target price on Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Invesco presently has an average rating of “Hold” and a consensus price target of $18.63.

About Invesco

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.